How Much Space You Can Rent for $1,600 in These 40 Illinois Cities

How Much Space You Can Rent for $1,600 in These 40 Illinois Cities

  • For $1,600, you’ll get about 10% less apartment space in Illinois than the 948 square foot average in the 100 most populous U.S. cities.
  • Of the 40 Illinois cities included in our research, Belleville and Evanston had the largest and smallest apartments, respectively, for $1,600.
  • Use the calculator at the end of the article to find out how much space you can rent in Illinois, whatever your budget.

Undeniably, space is something that we all came to appreciate in the past year during the pandemic, as it became increasingly more important for everyone, especially apartment dwellers.

So, RENTCafé analysts reviewed how much space you could rent across Illinois for $1,600, which is close to the state’s average monthly rent of $1,554. Based on Yardi Matrix data — and a bit of research — we’ve highlighted the cities where apartments offer the most and least bang for your buck.

It turns out that Illinois is a great place to call home, as most cities here offer rather spacious apartments. On average, you can get 853 sq. ft. of living space for $1,600 in the state, which is 10% less than what you can rent for the same amount in the top 100 most populous cities. Moreover, in almost half of the analyzed cities you can get over 1,000 square feet for the same price.

We put together the following infographic, which compares apartment sizes in the 40 Illinois cities included in our study. The size of the tiles represents the actual proportion of apartment space available for $1,600.

Throughout the state, the size of apartments you can rent on a $1,600 budget varies from 645 sq. ft. in Evanston to almost three times as much space in Belleville (1,748). Falling on opposite ends of our ranking, these two Illinois cities are also located in opposite parts of the state at a 300 miles distance from one another, with Evanston in the North-East , on the shores of Lake Michigan, and Belleville in the South-West.

Top 5 Cities with Most Apartment Space for $1,600

Belleville, located in the St. Louis metro, is where you can find the most apartment space in the state, of 1,748 sq. ft., for that fixed amount. The city has an average rent of $856 — one of the lowest in Illinois — making this community of almost 42,000 people an affordable place to live in.

Meanwhile, $1,600 can also pay for generous amounts of square footage in other cities, like Granite City (1,741) — which is part of the Greater St. Louis metro area —, as well as DeKalb (1,443), a city in the Northern part of Illinois. Waukegan apartments and West Chicago apartments also made the top 5, with 1,322 sq. ft. and 1,250 sq. ft., respectively.

All of these cities boast local average rents between $805 and $1,103 — below the state’s average — making them great choices for those looking for ample apartment space and lower rents.

Top 5 Cities with Least Apartment Space for $1,600

Conversely, the least space you can get for the same money in Illinois is usually in cities where rents are higher, but overall the quality of apartments is better and they are generally considered to be more desirable locations. For example, Evanston apartments — where rents go for an average of $1,936 a month — offer around 645 sq. ft. for $1,600.

Next up are Chicago and Oak Park — only 8.5 miles away from one another — are both among the cities in the state where you get less space for that money, but you’ll live in some of the most sought-after locations. Specifically, apartments for rent in Chicago offer 648 sq. ft. and those in Oak Park, only 722 sq. ft. for the monthly rent of $1,600.

The top 5 is closed by Glenview and Elmhurst where the same amount will get you smaller apartments of 803 sq. ft. and 835 sq. ft., respectively. So, if you do decide to choose one of these cities, know that you’ll need to shell out between $1,650 and $1,936 for the monthly rent. On the plus side, you’ll be enjoying better locations, so that’s definitely something worth considering.

What You Can Rent for $1,600 in Chicagoland

Here’s how much space you can get for $1,600 in Illinois’ largest metro:

In the Greater Chicago Area, DeKalb apartments tend to offer more living space for that money. Here, you can get 1,443 sq. ft. for the monthly rent of $1,600. Waukegan and West Chicago also prove to be great cities to live in because the space you could get here would also be substantially large of 1,322 sq. ft. and 1,250 sq. ft., respectively.

Meanwhile, the cities that offer the least space in the Chicago metro are Evanston (645 sq. ft.), Chicago (648) and Oak Park (722).

See How Much Space You Can Get on Your Budget

Want to find out how much space you can afford based on your budget in these 40 Illinois cities? Use the calculator below.

What apartment size can you rent on your budget?

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Apartment size for your budgetSq. ft.

Methodology

  • This report was prepared by RENTCafé, a nationwide apartment search website that enables renters to easily find apartments and houses for rent throughout the United States.
  • To compile this report, we analyzed average rent price and apartment size data provided by Yardi Matrix, RENTCafé’s sister company that researches and reports on large-scale multifamily properties of 50+ units. Yardi Matrix is a business development and asset management tool for brokers, sponsors, banks and equity sources underwriting investments in the multifamily, office, industrial and self-storage sectors.
  • State average rent and apartment size information is based on data for 249,000 market rate units and 1,200 multifamily properties across the entire state of Illinois.
  • The average apartment space per $1,600 of rent was calculated by dividing $1,600 by the average cost of rent per square foot in 40 Illinois cities with a statistically relevant sample size of apartments.

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Published at Wed, 31 Mar 2021 12:23:36 +0000

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